A view of Centre Court at Wimbledon prior to the exhibition match to launch the new retractable roof. Photograph: Glyn Kirk/AFP/Getty Images

Royal Bank of Scotland, which was bailed out with £20bn of taxpayers' money last year, is spending up to £300,000 on lavish corporate entertaining at Wimbledon.

Staff and their guests will enjoy fine dining and champagne as they watch the tennis championships at the All England Club. RBS, which cut 15,000 jobs in the aftermath of the bailout, has reserved a plush "entertainment suite" for a minimum of 42 guests for each of the tournament's 13 days, at a cost of at least £19,500 a day the Mail on Sunday reported.

An RBS spokeswoman said the deal was a long-standing agreement. "We fully recognise that as we get our house in order we need to be seen to change the way we operate," she said.

She added: "We have cut our hospitality by 90% this year."

The bank's former chief executive, Sir Fred Goodwin, bowed to public pressure last week and offered to reduce his controversial pension payout from £555,000 to £342,500 a year.

Lloyds Banking Group, which received £17bn of public money, is also paying for corporate hospitality at the championships.

One notable absentee from Wimbledon's corporate suites this year will be the BBC, which has decided not to do any entertaining due to "financial pressures and responsibility to licence-fee payers". However, the broadcaster's commercial arm, BBC Worldwide, will be doing so.